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Industry News

UntuckIt plans 100 stores within five years

November 3, 2017

UntuckIt, which started out as an online retailer of men’s shirts and is now rapidly expanding offline, is building on its stores’ success by rolling out a line for children. “We started with shirts and then started getting requests for new products,” said Chris Riccobono, the company’s founder and executive chairman, speaking to CNBC. People were coming into UntuckIt stores, Riccobono told the network, and saying, “ ‘This [shirt] would be perfect for my son.’ [A children’s concept] has been in the works for a really long time, but we wanted to do it at the right time.”

UntuckIt, which was launched online in 2011, now sells performance wear, shoes and a women’s line. After the children’s line, which the company will begin offering online and in stores on Thursday, the plans are to introduce a pants line, later this month.

UntuckIt opened its first store in 2015 and now says it aims to have 50 of them operating by the end of next year, and then about 100 in five years. Indeed, the company is in talks with Simon, Macerich and Taubman, according to CNBC.

“One thing e-commerce companies struggle with is not having a physical place to go to create a strong bond between the online business and the consumer,” co-founder and CEO Aaron Sanandres told CNBC. “We started to see our stores were extremely profitable, and the stores also offer a lift to the online business.”

Riccobono says there is a need for physical as well as virtual retail. “Men were saying they wouldn’t buy our shirts without touching and trying [them] on,” he said.

The company’s polo shirts and button-downs for children, size 2 to 14, will go for between $35 and $48.

Some of the funding for UntuckIt’s expansion came through a $30 million investment from venture capital firm Kleiner Perkins Caulfield & Byers last June.

By Edmund Mander

Director, Editor-In-Chief/SCT

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